U.S. Commerce Secretary Howard Lutnick has confirmed that the Trump administration will unveil a proposal for a strategic Bitcoin reserve at the White House Crypto Summit on March 7, signaling a potential shift in how the U.S. government views cryptocurrency.
Lutnick told The Pavlovic Today in a recent interview that the Trump administration intends to position Bitcoin as a key national asset, alongside other cryptocurrencies like Ether, Solana, Cardano, and XRP. “The president definitely thinks that there’s a Bitcoin strategic reserve,” Lutnick said, noting that Bitcoin would be given a unique status as part of this initiative.
While the announcement marks a significant development in U.S. crypto policy, it has sparked debate within the Bitcoin community. Some enthusiasts argue that a reserve should be comprised solely of Bitcoin, emphasizing its decentralized nature and lack of central control. They contend that including altcoins would undermine Bitcoin’s status as a long-term store of value. Even Peter Schiff, a vocal Bitcoin critic, acknowledged that a Bitcoin-only reserve makes sense.
Despite these objections, Lutnick defended the inclusion of other cryptocurrencies, stating that Bitcoin will be treated distinctly from other tokens. “Bitcoin is one thing, and the other currencies, the other crypto tokens, I think, will be treated differently—positively, but differently,” he explained. Further details on the structure and implementation of the reserve are expected to be revealed at the summit.
The upcoming White House Crypto Summit has generated significant attention, with 25 industry leaders slated to attend, including prominent figures like MicroStrategy’s Michael Saylor, Chainlink’s Sergey Nazarov, and Coinbase CEO Brian Armstrong.
Since taking office, Trump has worked on developing crypto regulations, including the establishment of a Crypto Task Force within the SEC to create a clear regulatory framework. The House Subcommittee on Digital Assets has also been addressing issues such as stablecoin regulations and market oversight.
Trump has expressed a desire for the U.S. to lead in blockchain and cryptocurrency innovation, with this new initiative indicating a more embracing stance toward digital assets. Full details of the proposed Bitcoin reserve will be announced on March 7.
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